Beyond Meat to begin selling at 2,000 Rite Aid locations

beyond-meat-to-begin-selling-at-2,000-rite-aid-locations

Beyond Meat Inc. BYND, +0.87% announced Thursday that Beyond Meatballs and the Beyond Burger product will be available at about 2,000 Rite Aid Corp. RAD, -17.18% locations around the country. The pharmacy retailer is the latest addition to a long list of restaurant chains and retailers that carry the plant-based meat company’s products. The U.S. plant-based food market has grown to $7.4 billion. The news also comes as analysts grow increasingly bearish about Rite Aid’s prospects, with Deutsche Bank downgrading the company’s stock rating to sell and slashing its price target to $1 from $16. Rite Aid’s stock plunged nearly 22% on Thursday, and is down 69% over the last year. Beyond Meat is down nearly 67% for the past 12 months.

Source: Marketwatch

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